BDI reports lower diamond production from S. Kalimantan mine
Wednesday, January 24 2007 - 02:41 PM WIB
London stock Exchange-listed diamond miner BDI Mining Corp. said October-december 2006 quarter production from its Cempaka mine in South Kalimantan reached 12,660 carats, lower than previous quarter's production of 14,593 carats.
The quarter marked the start of mining in the main Cempaka Channel as operations moved into Phase II expansion of the mine, said the company.
During the quarter, a total of 16,099.85 carats of diamonds were sold generating total gross diamond revenues of US$3.45 million, improving by 40%, gross diamond revenues from last quarter.
The company also said drilling to the west of current mining operations at Danau Seran have confirmed the downstream continuity of diamond bearing gravels in an area previously untested. Recently compiled drill-hole data has indicated the potential to expand the current resource base and thus extend the life of operations in the Danau Seran area.(alex)